Tax Revenue Statement

Tax Revenue Statement

The tax revenue statement has became a big challenge for entrepreneurs, being the only one from tax revenue which underwent several changes over time, which is hard to keep up with. Despite that its changes are public and available on the NAFA website, many people find it difficult to keep track and understand exactly what is meant by the tax revenue statement.

We Profit Green team, we are aware of legislative changes and especially the most important change in recent years, according to which individuals who receive non-wage incomes must do their tax calculation by self-imposing. We know, the concepts are difficult to understand, but we can help in this respect, offering our knowledge to understand and achieve the tax revenue statement.

The tax revenue statement should be seen as a simplified mechanism  through which it could be declared non-wage incomes, based on self-taxation, which is done by filling an electronic form. The form is available on the NAFA website, in the updated version and is considering the Tax Code.

Green Profit – What we offer?

  • Assistance in understanding fiscal notions
  • Assistance in order to achieve the tax revenue statement
  • Assistance regarding the calculation of non-wage incomes
  • Assistance in facilitating th connection with the state institutions
  • Assistance and advice in order to update data as required by law and amendments
  • Checking and calculating income tax and social contributions

Basically, through the tax revenue statement we try an estimation of revenue and fees by each taxpayer s’ incomes, in Romania or outside it. There is taken into account the income from independent activities, income from intellectual property rights (paying attention to the nature of these activities and the withholding tax manner), or other types activities.

For fiscal year 2019, the tax revenue statement focused on the following aspects:

  • Declaration of tax on income earned in Romania or abroad related to 2018
  • Declaration of estimated income tax for the year 2019
  • Declaration of estimated income as a social security contributions payer for 2019.

For filing the tax revenue statement, accounting data are taken into consideration, as they are registered, and by not declaring them through the tax revenue statement, this fact is sanctioned by fine.

Important to remember is that individuals with no income, but who want to pay the CASS in order to ensure the public health system may submit the tax revenue statement. The statement aims not only individually incomes ,but also joint incomes. Also,in the tax revenue statement are also mentioned the losses, besides cumulated revenues.

We are available for you with updated information regarding the tax revenue statement, so that it can be correctly filed and especially in time. We welcome you to contact us!

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